Right now - we run most of the income/expenses for all properties out of one "managing" checking account, and then just designate every expense for the property it's for, thus allowing us to do the bookkeeping from there. 

Turning that residence into a rental property will void that designation and allowing it to remain is fraud.

If you like - please better describe your 'professional' designation.  

The house would be designed in "panels" that would be prewired and have junction boxes where the panels connected.

I own a small design/build furniture company located in Seattle, and I have been thinking about using my furniture, and my design sense, to start staging homes.  

These will be less expensive options but be aware that the municipality might be asking for more.If the municipality is asking for zoning issues, ADA requirements, historical items or design changes, etc. then get an Architect.

And this using a 203K FHA loan in the brutal market of Boston, on the east side of the Port Norfolk bay area.Facts & Numbers:2 beds & 2 baths on each of the 3 unitsPurchased for $655K @ 5% down-payment and a generous dose of 203K closing feesTaken a 30K cushion for the 203K streamlined rehabLocked in 4.25% @ 30 year interest rateAppraised at 750KThe numbers are certainly not the exquisite definition of what a ground-breaking deal stands for, but they certainly fare decently well in this seller's market where cash investors rule, the inventory is constantly challenged and most properties are getting sold for over asking price, taking advantage of the current interest rates, the Everett Casino construction, and a few other speculative but pragmatic plays.Just like most everyone else that was not raised or surrounded by real estate professionals from a young age, this deal was pretty much riddled with small mistakes here and there, from neglecting the fire department smoke and carbon detector regulations, being over-optimistic on the underwriting guidelines, underestimating the cost opportunity due to all sorts of processing delays, and you name it.Currently free from tenants, the expectation is to add value by rehabilitating the under-developed basement, adding 2nd and 3rd floor balcony decks, and a variety of practical and aesthetic fixes.

This was never designed to be a rental property, but it ended up one so now we are trying to make the best of it!

I am currently working on my marketing plan and designing my postcard campaign. 

The greater advantage you will have is the ease of access from your property to the school, the type of neighborhood it is in and aesthetics of the place inside and outside.